How to Run a Mini Farm on the Tennessee Land of Your Dreams

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How to Run a Mini Farm on the Tennessee Land of Your Dreams

By Hurdle Land & Realty

 

Whether you’re new to Tennessee or you’ve lived here your whole life, a dream of running a mini farm just makes sense. The rolling hills and green pastures are perfect for homestead living. All it takes is the dream and the land to grow. Hurdle Land & Realty takes the bank out of the equation and provides owner-financed land options starting as low as $297. You could take instant ownership and start breaking ground on your mini farm in Tennessee the very next day. 

What is the Goal of your Mini Farm

Before starting your mini farm, the biggest question is whether your main goal is profit or sustainability. Commercial operation or homesteading with family? Depending on the size of your aspirations, you may need to look into additional permits and ensure the land is zoned for your intentions. Beginner farmers should work with the USDA so they can have access to helpful services like farm loans, crop insurance, disaster assistance, and conservation programs. 

Best Crops to Grow in Tennessee

Knowing the best crops to grow each season where you’ve purchased owner-financed land in Tennessee can ensure a bountiful harvest. The best crops for the warm season are tomatoes, beans, sweet peppers, cantaloupe, sweet corn, cucumbers, eggplant, okra, and peas. For the cool season, the best vegetables to grow are potatoes, broccoli, cabbage, kale, lettuce, mustard greens, spinach, cauliflower, and collards. Apple, pear, peach, and plum trees grow well in most areas of the state, and mushrooms are grown commercially. 

Know the Tax Rules for Hobby Farms

Since the federal tax rules are more favorable for businesses than hobbies, and you earn an income from your mini farm, you can deduct your farm-related expenses. When you think about all the costs and supplies related to running your farm, all the potential write-offs and deductions include the following: 

·      Farm supplies like feed, fertilizer, seed

·      Compensation to children or spouse if they work the farm

·      Repairs or maintenance

·      Interest from farm mortgage

·      Insurance

It all starts with paperwork, so make sure you have all of yours in order. Keep your financial records together and in a secure place to ensure they’re filed properly and in a timely manner at tax time every year. 

Make Money on Your Mini Farm in Tennessee

Once you settle into homesteading life on your mini farm in Tennessee, it’s time to make money. There are plenty of ways to earn income from your land. If you have chickens, you can sell surplus eggs; if you have a garden, you can sell the surplus harvest. Depending on your land’s size and geographical layout, the opportunities are endless. 

The professionals at Hurdle Land & Realty have owner-financing available with land here in Tennessee as low as $297 down. When you’re ready to start a mini farm dream of your own, with low monthly payments, we can make that dream a reality. Give us a call today!